TIDMMTR
Metal Tiger PLC
25 August 2017
Metal Tiger Plc
25 August 2017
Metal Tiger Plc
("Metal Tiger" or the "Company")
Receipt of final KEMCO Economic Contribution Assessment
Metal Tiger plc (LON:MTR), the London Stock Exchange AIM listed
investor in strategic natural resource opportunities, is pleased to
announce that the Company has received a final revised Economic
Contribution Assessment, produced by Five Corners Consulting, for
the assets of the Company's Thai Joint Venture ("KEMCO JV") over
the Song-Toh and Boh-Yai silver-lead-zinc mines (the "Project")
located in Thailand.
Highlights (Note: currency values are denoted in USD):
-- Total quantified direct benefits to the Thai national economy
of $287.4 million, comprised of:
o $130.6 million in payments to Thai suppliers;
o $47.4 million in salaries and wages to local and Bangkok
employees;
o $37.1 million in taxes and fees paid to the government;
o $69.3 million in royalties; and
o $3.04 million in community projects and training.
-- An additional $115.0 million in indirect multiplier benefits
will accrue for a total contribution of $402.4 million.
o Total benefits to the local Kanchanaburi Province economy of
$152.1 million, including:
-- $27.7 million in allocated royalties;
-- $40.1 million in salaries;
-- $45.8 million in purchases of equipment and consumables;
and
-- $15.4 million in up front capital expenditures.
-- The Project will generate external benefits beyond the financial returns by:
o Developing Thailand's skill base through training of
unskilled, semi-skilled, and qualified nationals;
o Providing employment opportunities in rural areas;
o Setting world-class benchmarks in safety, employment
standards, business governance, and environmental management;
o Helping Thai firms to develop new products and promote
exports; and
o Providing detailed land surveying data to the government,
which can then be applied to land- use management.
-- Indirect benefits will help the Government achieve its goals
set out in: "Thailand's 20-year strategy
(2017-2036)", for attaining developed country status through
economic stability, human capital, equal economic opportunities,
environmental sustainability, competitiveness, and effective
government bureaucracies; and "The 12th National Economic and
Social Development Plan (October 2016-September 2021)", which
focuses on reducing income disparity and poverty, enhancing
competitiveness, promoting natural capital and environmental
quality, and boosting confidence in Thailand in the international
community.
Five Corners Consulting is an independent boutique
risk/corporate affairs consultancy that focuses closely on
Southeast Asia and has delivered country, political, economic and
regulatory risk assessments on every Association of Southeast Asian
Nations ("ASEAN") country. A draft version was delivered in January
2017, using economic outputs generated from the Preliminary
Economic Assessment produced for the project by ACA Howe in 2013.
This revised version incorporates the economic outputs modelled by
SRK Consulting in their JORC compliant Competent Person's Report as
announced on 13 June 2017.
The Economic Contribution Assessment considers the total
economic benefit of the project to the Thai economy at the
following levels:
-- Direct and indirect benefits to the national economy;
-- Benefits to the Kanchanaburi provincial economy; and
-- External benefits generated from linkages with government
policies, human capital development,
governance and standards, FDI, and enterprise development.
And includes contributions such as:
-- Payments to Thai suppliers;
-- Wages and Salaries paid to local employees;
-- Taxes and Fees paid to Government;
-- Royalties;
-- Community projects, training, scholarships & activities; and
-- Contractor Services.
Assumptions made regarding payments to non-Thai suppliers, thus
not contributing to the Thai economy, as well as the portion of
supplies that can be sourced locally versus nationally, were based
in part on historical purchasing records as well as input from
former employees involved in purchasing.
A conservative 'value-added multiplier' of 1.4 was used to
calculate the indirect contribution; that is, for every $100 in
direct contribution, an additional $40 in indirect contribution
would accrue to the Thai economy, via consequential benefits of
more widely induced economic activity. All numbers reflect the
economic benefit for the projected mine life of 13 years.
Michael McNeilly Chief Executive Officer of Metal Tiger
commented:
"We are delighted to confirm receipt of the Economic
Contribution Assessment highlighting the significant benefit that
developing the Song-Toh and Boh-Yai silver-lead-zinc mines will
bring to the country. We look forward to Kemco delivering the
Project and realising this contribution."
For further information on the Company, visit:
www.metaltigerplc.com:
Michael McNeilly (Chief Tel: +44(0)20 7099
Executive Officer) 0738
Keith Springall (Finance Tel: +44 (0)20 7099
Director & Company 0738
Secretary)
Stephen Allen or Bhavesh RFC Ambrian Tel +44 (0)20 3440
Patel Ltd (Nominated 6800
Adviser)
Jonathan Williams RFC Ambrian Tel +44 (0)20 3440
Ltd (Joint 6800
Broker)
Nick Emerson SI Capital Tel: +44 (0)1483
Andy Thacker (Joint Broker) 413 500
Andrew Monk VSA Capital Tel: +44 (0)20 3005
Andrew Raca Limited 5000
(Joint Broker)
Gordon Poole Camarco Tel: +44 (0)20 3757
James Crothers (Financial 4980
PR)
Notes to Editors:
Metal Tiger plc is listed on the London Stock Exchange AIM
Market ("AIM") with the trading code MTR and invests in high
potential mineral projects with a precious and strategic metals
focus.
The Company's target is to deliver a very high return for
shareholders by investing in significantly undervalued and/or high
potential opportunities in the mineral exploration and development
sector timed to coincide, where possible, with a cyclical recovery
in the exploration and mining markets. The Company's key strategic
objective is to ensure the distribution to shareholders of major
returns achieved from disposals.
Metal Tiger's Metal Projects Division is focused on the
development of its key project interests in Botswana, Spain and
Thailand. In Botswana Metal Tiger has a growing interest in the
large and highly prospective Kalahari copper/silver belt. In Spain
Metal Tiger the Company has tungsten and gold interests in the
highly-mineralised Extremadura region. In Thailand Metal Tiger has
interests in two potentially near-production stage silver/lead/zinc
mines as well as licences, applications and critical historical
data covering antimony, copper, gold, silver, lead and zinc
opportunities.
The Company has access to a diverse pipeline of new
opportunities focused on the natural resource sector including
physical resource projects, new natural resource centred
technologies and resource sector related fintech opportunities.
Pipeline projects deemed commercially viable may be undertaken by
Metal Tiger or by an AIM or NEX Exchange (formerly ISDX) partner
with whom the Company is engaged.
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAEAFPSAFKXEFF
(END) Dow Jones Newswires
August 25, 2017 07:19 ET (11:19 GMT)
City Pub (LSE:CPC)
Historical Stock Chart
From Apr 2024 to May 2024
City Pub (LSE:CPC)
Historical Stock Chart
From May 2023 to May 2024